The National Bank replenishes state budget for another UAH 5 billion.

Until the end of the year, the National Bank should transfer another 29.4 billion UAH to the budget

The National Bank today transferred to the state budget the second tranche of its profit for 2016 in the amount of UAH 5 billion.

This was reported by the press service of the National Bank.

At the end of April, the regulator transferred the first tranche of profits to the budget in the amount of UAH 10 billion. And by the end of the year the NBU should transfer another UAH 29.4 billion.

The further schedule of transfers is coordinated with the Ministry of Finance. It provides for monthly tranches to smooth out the influence of the dynamics of the government’s funds on fluctuations in the liquidity of the banking system and on inflation.

Earlier, the head of the council of the National Bank reported that in the current year more than 44 billion UAH of profit of the NBU for 2016 will be transferred to the state budget.

It was also reported that in the first quarter the state budget revenues amounted to 174.76 billion UAH, expenditures exceeded 184.55 billion UAH. That is, the deficit amounted to 9.74 billion UAH. This is 7.8% lower than the deficit for the same period last year. According to the Treasury data, in the first quarter, tax revenues increased by 32%, customs revenues increased by 31.6%, and receipts from a single social contribution increased by 29.1%.